Are the times a changing though with thousands of repossessions coming onto the market at prices way below market value, and some vendors who have to move because of work or family commitments and having to accept that to sell they have to accept the unacceptable, and sell at prices way below their expectations.
In short its bargain time and investors with some cash can cash in on what is the best buying market since the early nineties. Due Diligence is a must but if you do your homework you will need at least a 25% deposit for a buy to let mortgage and what a fantastic choice of properties you will have to chose from.
Make sure that you buy the right property in the right area for renting at the right price and you put down a big deposit in order that if the property is vacant for any reason you will have some cash in hand to tide you over. There has never been a better time to buy in the last twenty years do not miss out.
Michael J Alexander acommercialmortgage4you.co.uk
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( 3 / 143 )The current market conditions do not appear to have put off the more experienced Investors, and the interest in building up the property portfolio is still very much alive, despite the fact that we still expect property prices to fall by as much as 10% in 2009.
Some very hard bargains are being made when vendors want to sell, not just because of where we are now, but because you have to factor into the purchase price the further fall in prices that we all expect this year. Where clients are selling and buying, the pricing should even its self out across the transactions. But where you are forced to sell the loss on the sale of the property is a very real one. In life however some ones loss is another Investors gain, and the opportunities to build up a portfolio of buy to let properties has never been better.
You will certainly have to put down a 25% deposit to get an attractive mortgage product, and the rental income stress test is making life a little difficult on some deals, but we are spoilt for choice are we not. This is a buyers paradise, and we will not see opportunities like this again until the next down turn in the property market in 2030 ?
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( 3 / 209 )Buy to let booms in the UK for the 2nd year running, and has become so popular everybody is talking about it
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